Diversified Portfolios Inc. Has $333,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Diversified Portfolios Inc. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 641 shares of the medical research company’s stock after acquiring an additional 38 shares during the period. Diversified Portfolios Inc.’s holdings in Thermo Fisher Scientific were worth $333,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $30,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.4 %

Shares of Thermo Fisher Scientific stock opened at $545.27 on Wednesday. The firm has a market capitalization of $208.57 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 3.18 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $548.02 and its 200 day moving average is $571.52. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TMO has been the subject of several research reports. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bank of America reduced their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Raymond James reaffirmed an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $658.00.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.